Avidian Wealth Solutions LLC Takes $201,000 Position in Lamar Advertising (NASDAQ:LAMR)

Avidian Wealth Solutions LLC purchased a new position in shares of Lamar Advertising (NASDAQ:LAMRFree Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,684 shares of the real estate investment trust’s stock, valued at approximately $201,000.

Other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new stake in shares of Lamar Advertising in the fourth quarter worth about $111,255,000. Boston Partners grew its position in Lamar Advertising by 32.7% in the fourth quarter. Boston Partners now owns 2,953,214 shares of the real estate investment trust’s stock valued at $313,871,000 after acquiring an additional 727,207 shares in the last quarter. Morningstar Investment Services LLC raised its stake in shares of Lamar Advertising by 97.6% during the fourth quarter. Morningstar Investment Services LLC now owns 913,833 shares of the real estate investment trust’s stock valued at $98,347,000 after purchasing an additional 451,429 shares during the period. Norges Bank acquired a new position in shares of Lamar Advertising during the fourth quarter worth $38,406,000. Finally, Centersquare Investment Management LLC boosted its stake in shares of Lamar Advertising by 1,252.8% in the fourth quarter. Centersquare Investment Management LLC now owns 340,181 shares of the real estate investment trust’s stock valued at $36,154,000 after purchasing an additional 315,034 shares during the period. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Lamar Advertising Stock Down 0.8 %

LAMR traded down $0.96 on Wednesday, reaching $117.57. The company’s stock had a trading volume of 454,571 shares, compared to its average volume of 401,933. Lamar Advertising has a 1 year low of $77.21 and a 1 year high of $122.22. The business’s 50 day moving average is $117.89 and its 200 day moving average is $113.11. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.38 and a quick ratio of 0.38. The stock has a market cap of $12.02 billion, a price-to-earnings ratio of 24.14 and a beta of 1.52.

Lamar Advertising (NASDAQ:LAMRGet Free Report) last released its earnings results on Thursday, May 2nd. The real estate investment trust reported $0.76 EPS for the quarter, missing the consensus estimate of $1.47 by ($0.71). The business had revenue of $498.15 million for the quarter, compared to analysts’ expectations of $496.98 million. Lamar Advertising had a net margin of 23.29% and a return on equity of 41.86%. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.41 earnings per share. As a group, research analysts forecast that Lamar Advertising will post 7.69 EPS for the current fiscal year.

Lamar Advertising Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 17th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.42%. The ex-dividend date was Monday, June 17th. Lamar Advertising’s payout ratio is currently 106.78%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, May 31st.

Get Our Latest Report on Lamar Advertising

Insider Transactions at Lamar Advertising

In other news, Director John E. Koerner III sold 17,000 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $120.05, for a total transaction of $2,040,850.00. Following the transaction, the director now owns 32,178 shares of the company’s stock, valued at $3,862,968.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 14.98% of the company’s stock.

About Lamar Advertising

(Free Report)

Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals.

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Institutional Ownership by Quarter for Lamar Advertising (NASDAQ:LAMR)

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